tv On the Money NBC January 11, 2016 3:30am-4:00am CST
we wish them well! go iowa. >> ron: the hawkeye marching band did an incredible job representing thestate of iowa even though al roker had trouble earlier o on, he called them the iowa state hawkeyes and i'm susu he heard all about that on social media, but a great event before the game by the always-popular iowa hawkeye marching band. that was a great arade. we saw themm making the floats the day before and we had a chance to drive down one of the roads. >> mark: the orange grove boulevard. >> ron: and colorado boulevard, the twoo popular ones and it was a sight to see all of these temporary bleachers set up in people's yards. i don't know how many people showed up for the parade, i think they said about a million for the parade itself. when we finally got to go to the stadium, i wanted to show you this one piece of video. as we walked through the tunnel on to the playing field, and by the way, this is the same tunnel
from the locker room, they went from the locker room to the rose bowl turf and this is exactly what they saw, obviously more people in it by the time they came out for game day, but that turf was an amazing piece of real grass. i mean, just a spectacular surface, but walking through that tunnel kind of made you feel like, wow, this is what the players are feeling and i don't know about you, mark, but i always ask myself, what are those players thinking as they walk through that tunnel on to this great iconic stadium turf and knowing g at this is perhaps the only time they'll ever play in the rose bowl, certainly what an experience for them. >> mark: yeah, when you're a special moment. you talk about that turf, i had to lean down and feel it because it looks fake and you get down green. like playing o o a putting surface, the softest, most well kept thing. >> r: it's about the best golf
things up with segment me of >> mark: welcome back to the final segment of this week's edition of the steele report as we look back on our kwwl trip to the 102 rose bowl. >> ron: and it was quite an expepeence. during our half hour rose bowl special last week, several times you heard from coach fer rens, and one message that we weren't abe to bring you that moved me was about the relationship with the players over the years. he talked about what bob sanders
the big 10 championship game.e. >> sticts were lard to -- tickets wra lard to find, but bob sanders saved the day. he got a box and a bunch of our former players were up in the box with him. i didn't get to see him in indianapolis, but had a really goodonversation with him afterwards. he's a father of four now, but just to talk to himm and theway he's grown as a person and he's a young man, now a young parent doing a great job raising his family. he's financially lyly stable, done a great job there. it's not just inform players that went to -- former players that went to the nfl, but so many guys don't go to the nfl, but they're doing great things in business, medicine, education, and just to see the guys grow and mature and become young adults is really neat and that's another reason i consider myself fortunate to be at iowa, the fact that i've been here 26 years of my professional life
longevity, you get exposure to things that if you're only in a job for four or five years or six years and moving on the next one. >> mark: now the four-me g 10 coach of the year. 17 years in the books at iowa right now, 127 victories, just 16 short of tying the leg defend zaer hayayn frye who earned 123 in his years the hawkeyes. >> ron: we also ran into a great old friend out at the rose bow that being former kwwl sports director oh my bob hoag. he was retired from the television industry, actually a state senator and now commissioner at the pack west athletic cononrence and he today bus the rosese bowl he covered for us back in 1982 for kwwl. >> even though they lost the game, 40,000 iowa fans spontaneously singing at the end
i'll never forget it. what an experience. >> ron: it's been 25 years since iowa hasaseen ere, bob. >> i can't believe it's been that long. you can see the fans lining up at the gate to take pictures of everything. there's nothing like an iowa fan, oh my. >> ron: the classic line oh mie from the great bob hoag. the first play from scrimmage, that was 364 all-purpose yards and seemed to catch evevebody offgfgrd and set the tone, the day. >> mark: they can line him up anywhere. startered out receiver -- started out receiver, took a jab step, shot between two receivers and made that catch. iowa was driving that point, the game was almost over. >> ron: it seems like they weren't really ready for him being a receiver on that first play, caught everybody offguard.
see you next week.aspect to it. the rest will be a combination of bonds and short-term instruments like money markets. >> sharon, thank you very much. >> sure, my pleasure. here is a look at other stories making news as we go into a new week "on themoney." a strong jobs report for the month of december. the economy created 292,000 jobs, and numbers for previous months were revised higher. the low of 5%. what a week for the stock market, and we don't mean a good one. the dow had their worst first four days of year ever.
500. the nasdaq fell about 6% with a three-month low with worries about china taking center stage. auto sales hit a record high last year with americans buying 17.5 million vehicles in 2015. that brokeke the mark set 15 years ago. cheap gas all contributed to the new record. up next, the affordable care act entered year six. more americans have access to health care, are they healthier? are drug companini ininsting
old drugs just to make millions. in march it will be six years since the affordable care act became the law. is obama care making health care more affordable as intended. faced with premiums and higher deductibles, some people are not so sure. >> michael chadwick is all for obama care insurance, but the man hatenthe manhattan realtor says he could not make his payments. >> 2015 i started doing well and business started to pick up. the affordable health care act doesn'ttake into account that small business owners may not have consistent income. >> they signed up for 2016 exchange plans by late december. that is well below the 20 million expected to sign up by
analysts say cost remains an issue. >> many middle income people continue to suggest that exchange plans just are not affordable for them even with the subsidies, they simply can't make the monthly premiums work in addition to all of the out of pocket costs. >> insurers are seeing higher costs. a dozen nonprofit co-op insurers are out of business, and united health says they may stop selling exchange plans next year. >> people are reconfiguring their products. what we're going to know next year is what works and what doesn't. >> a budget deal delay could help with prices in 2017. but the real key is getting more healthy people to stay enroroed.
for the peace of mind so my jewish motheran sleep at night. >> the penalty of not haves insurance goes up to $695 or 2.5% of your income, whatevers higher. continuing our obama care check up, let's bring in dr. kenneth davis. he is the president and ceo off the mount sinai health system. what is the truth? we have seen news about rising premiums, higher deductibles, is obama care working or not? >> reality is what you showed. the premiums are going up, deductibles are higher, and that is a problem. insurers are leaeang the risk pool. it is not enough healthy people have signed up, and that is because the penalties were not enough.
more healthy young people, those ages 25 to 35 will join. they diminish the cost of insurance by distributing it over a larger population. roughly the estimate is 35% to 45% of the risk pool, it gets -- the whole insurance system gets in trouble. >> what percentage is signing up right now. >> right now it is about 26&. >> united health is talkiki ababt potentially dropping out of obama care. we also heard about mega mergers. what does that consolidation mean? whwh is the drop out potentially of others, what does it mean for prices next year? >> less kpecompetition, and that is a problele the ftc really has to look at that market by market. >> we know that as a result of
at an uninsusud population. that is the good news, what do you think needs to be fixed? >> we have to ask what are thehe drivers or health care expenses and how will we curtail that increase. and part of the problem is the 25% of medicare dollars is spent in the last year of life. we have still done very little to change the way we approach end of life care. advanced directives are very helpful, but what we often find is that as patients get end of life diseases, there are no end of like directives. >> frankly it is a conversation from our own personal experiences that you usually don't have until the midst of things and that is difficult emotionally. >> it is too late then, and w w don't want to ask hard questions like should a condition for being in the medicare program be that you have to give us an advanced directive when you seen up. that would change everythingng
health care costs, and it will be company that's are talking out big increases. you understand that for research and development, drug companies need to be able to charge a certain price, but how do you find the happy dium? >> it is a very complex problem. the rest of the world regulates the drug prices. our market is the market where the companies have to generate profit. we have to recognize that this is a trade issue. when we sit down with nafta, with the eu, and with the pacicic rim, we have to say that we can't be the only place in the world that is giving drug companies a return on investment. >> that is a different argument
you w wry you shut down any research and development or innovation. you're telling our companies they can't regulate drug prices, either. >> we all have to sit together and say what is an appropriate return on investment, and what is necessary for the infrastructure of the pharmaceutical industry so they can be innovative. >> over the last year, i think there was 45 new drugs approved, and that is great news that my of these were for specialized or rare diseases and i wononr w wt kind of progress we're making when it comes to chronic illness. >> the other way we bend the costurve is with brerethrough therapeutics. and they have to be in the the area with the most disability and the most cost. th diseases that stand out are type two diabetes and
we don't have adequate incentive incentives there. so wee have encouraged companies to take a business model that doesn't develop the most importt drugs. >> and i think the fix for that is a longer sort of discussion, but is there something quickly that you think -- >> in the 21st century cure act, it would be very helpfululf w w had an extended market exclusivity. the alzheimer's clinical trials will take so long, done right, that the patent life left on those compounds will be so short that we will be dealing with drugs of enormous expense or that will not be developing. >> thank you very much for being here, dr. davis. >> thank you for having me. up next, theooming siness of slimming down and
>> it is a studio based exercise that has influenced fashion and food. >> an average price tag of $30 per class. boutique fitness is a new way to work out, and business is booming. the health racket and sports club associations says the memberships have been growing. 32% of all members used these facilititi in 2014, upp dramatically from just 22% the year before. soul cycle, the indoor cycling company with a cult following. fly wheel has nearly three dozen
>> it is an eimmersiviv workout experience. >> they also have aggressive expansion plans. >> we have an exciting trajectory in front of us. we want to be in 50 stores in the next five years. >> it cost 50% to 100% more than the industry average. it inspired a fashion trend called at leisure. >> it is more than 40 fitness nessness brands and a celebrity following. the fashion start up has opened five brick and mortar locations. it even has a tuesday owe where well known instrtrtors teach classes. >> and it helped fuel a culinary
foods labelled with health attributut jumps 13% meaning getting in shape may increasingly mean getting financially fit. >> i tried a number of these classes, they're not for the faint of heart if is easas to understand why this has become to popular and created a culture of fitness fashionistas. they have seen sales in studios that have been open for more than a year increase by more than 30%. if this was a publicly traded company that would be incredible growth. >> i stick to the old stinky gyms myself, but what about the new high end fancy gyms, are they able to continue to compete? >> referee: some of them are more traditional. big box gyms continue to have a dominant piece in the fashion industry. it is the small boutique studios.
are getting a upgrade. for more on our show and our website. you can also follow us on twitter @onthemoney. >> the detroit auto show kicks off on monday. we'll see the latest high tech gadgets they'll have for us in the next year. and tuesday is the anniversary of the debut of "all in the family."re release their beige book.
reports starting with retail sales, and we'll get a look at inflation with the ppi. and new york's p plic pay phones are going free and wireless. spots. the hubs will have android tablets tt can browse the web for free, usese can also access the free wifi on their own devices. need a battery boost? each hub has two usb charging ports. we'll see how long these things last. that is the show for today, i'm becky quick, thank you for joining me. next week, shopping for insurance from home to car to life. how to make sure you get the most for your money. we're "on the money."
> next, mexican officials want to talk to sean penn about his secret meeting with drug lord el chapo. the biggest night of the year the winners and what happened behind the scenes. plus the jewel thief that stole millions is finally captured. "early today" starts right now. good morning, we start with breaking news, legendary singer 69. he had been battling cancer the last year-and-a-half.f. his album was released on his birthday this past saturday. bowie was a primary innovative of shea mon of rock 'n' roll.